Oppenheimer & Co. Inc. Raises Position in Weyerhaeuser (NYSE:WY)

Oppenheimer & Co. Inc. grew its position in Weyerhaeuser (NYSE:WY) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,310 shares of the real estate investment trust’s stock after acquiring an additional 3,455 shares during the period. Oppenheimer & Co. Inc.’s holdings in Weyerhaeuser were worth $8,809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WY. Turtle Creek Wealth Advisors LLC acquired a new position in Weyerhaeuser during the fourth quarter worth about $26,000. American National Bank raised its position in Weyerhaeuser by 171.5% during the first quarter. American National Bank now owns 763 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 482 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Weyerhaeuser by 606.7% during the third quarter. Raleigh Capital Management Inc. now owns 848 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 728 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Weyerhaeuser by 92.6% in the fourth quarter. Lindbrook Capital LLC now owns 888 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 427 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Weyerhaeuser in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Up 1.1 %

NYSE:WY traded up $0.32 during trading hours on Friday, reaching $29.28. The company’s stock had a trading volume of 5,489,237 shares, compared to its average volume of 3,593,956. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 26.62 and a beta of 1.39. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The business’s 50-day moving average is $29.41 and its 200-day moving average is $32.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.24 and a quick ratio of 1.57.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Weyerhaeuser had a net margin of 10.57% and a return on equity of 7.00%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. Equities research analysts predict that Weyerhaeuser will post 0.99 EPS for the current year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, May 31st. Weyerhaeuser’s dividend payout ratio (DPR) is currently 72.73%.

Insider Activity

In other news, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of Weyerhaeuser stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $29.40, for a total value of $169,814.40. Following the completion of the transaction, the director now owns 5,790 shares in the company, valued at $170,226. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WY has been the topic of a number of research analyst reports. BMO Capital Markets lifted their target price on Weyerhaeuser from $36.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and set a $36.00 target price on shares of Weyerhaeuser in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered their price objective on Weyerhaeuser from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.00.

Weyerhaeuser Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.